Bring Back the Corn Murals

One under reported aspect of last year’s record drought in the US was the Corn Palace in South Dakota unable to surround its walls with corn murals like this one:

Well, everyone breathe easier this year – because just about every piece of media is out today regurgitating the USDA results saying the 97 million acres of Corn planted this season is more than any time since 1936. Now, the USDA survey is known to have some serious issues, and you could expect as much surveying 70,000 farmers nationwide by Phone, snail mail, email, and personal interviews), 97.3 million acres have been planted, a record dating back to 1936.

But that’s still a heck of a lot of Corn, and enough to send Corn Futures down like -5% or so in the December futures. Sorry Finviz.com, the number isn’t -17% as you’re reporting – looks like you are forgetting the effect of rolling the contract from July to September, as we’ve pointed out before.

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Disclaimer

Forex trading, commodity trading, managed futures, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors.
The mention of market based performance (i.e. Corn was up 5% today) reflects all available information as of the time and date of the publication.